NSE market cap closes on a positive note





The Nigerian Stock Exchange has closed this week’s trading activities on a positive.

The exchange recorded its first gain this week when the market capitalisation and the All Share Index closed on Friday at 13,260 trillion Naira and 36,603.44 basis points respectively.

Both the Market capitalisation and the All Share Index gained 0.37 per cent. While the market capitalisation gained 49 billion Naira, the All Share Index gained 133.39 basis points.

Investors exchanged 680 million shares worth 3.9 billion Naira in 3,677.00 deals.

Weekly summary

A total turnover of 1.665 billion shares worth N14.834 billion in 18,795 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.219 billion shares valued at N17.333 billion that exchanged hands last week in 17,362 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.056 billion shares valued at N10.224 billion traded in 10,056 deals; thus contributing 63.45% and 68.93% to the total equity turnover volume and value respectively.

The Services Industry followed with 264.289 million shares worth N549.693 million in 592 deals. The third place was occupied by Conglomerates Industry with a turnover of 134.374 million shares worth N199.566 million in 1,286 deals.

Trading in the Top Three Equities namely – Sterlng Bank Plc, Medview Airline Plc and Zenith International Bank Plc (measured by volume) accounted for 719.386 million shares worth N4.209 billion in 1,961 deals, contributing 43.20% and 28.38% to the total equity turnover volume and value respectively.

Also traded during the week were a total of 340 units of Exchange Traded Products (ETPs) valued at N33,660.20 executed in 6 deals, compared with a total of 79,304 units valued at N1.491 million that was transacted last week in 18 deals.

A total of 17,251 units of Federal Government Bond valued at N17.943 million were traded this week in 18 deals compared with a total of 13,517 units valued at N14.899 million transacted last week in 30 deals.

Index movement

The NSE All-Share Index and Market Capitalization depreciated by 2.11% to close the week at 36,603.44 and N13.260 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE Insurance Index that appreciated by 0.08%

Sixteen (16) equities appreciated in price during the week, lower than twenty-one (21) in the previous week. Fifty-nine (59) equities depreciated in price, higher than fifty-five (55) equities of the previous week, while ninety-four (94) equities remained unchanged higher than ninety-three (93) equities recorded in the preceding week.

New Listing; Listing of the FGN Green Bond

A total volume of 10,690,000 units of 13.48% FGN DEC 2022 was admitted to trade at the Exchange today Friday, July 20, 2018.

Suspension lifted

Meanwhile, the NSE has lifted the suspension it had placed on Royal Exchange Plc.

Royal Exchange Plc, which was one of the eight (8) companies suspended, has submitted its Audited Financial Statement for the year ended 31 December 2017.

In view of the submission of its accounts and pursuant to Rule 3.3 of the Default Filing Rules, which provides that: “The suspension of the trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”; the general public is hereby notified that the suspension placed in the trading of the Company’s shares has been lifted effective today, 20 July 2018.

Royal Exchange Plc, along with the eight (8) other listed companies were suspended for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will:

(a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;

(b) Suspend trading in the Issuer’s securities; and

(c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

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